GBPUSD, 07/10/15 @16:42 GMT

The pair is making the UPward Correction we waited for applying my ICHIMOKU 4 TF Strategy with H4 TF being the 4th TF and Monthly the 1st.

Price most possibly will approach the price level of Kijun Sen (ICHIMOKU Blue Line) on DAILY TF at 1.5383 up to 1.5400 where the lower border of the KUMO is.

If you want to trade this remaining upward move, go down to M15 TF and after a minor correction, BUY when a Bullish candlestick closes above BOTH Tenkan Sen and Kijun Sen with BOTH Lines sloping UPwards. STAY IN as M15 Candlesticks close above Tenkan Sen. EXIT whn a Bearish M15 Candlestick closes below Tenkan Sen. Trail your SL a few pips below Kijun Sen.

If you prefer to WAIT for the UPward correction to finish, so you enter Short, go to DAILY TF. When you see a Strong Bearish Candlestick forming there, switch to H4 Time-Frame and WAIT for ALL your Short Entry (SELL) Criteria to be met.

1. A bearish H4 Candlestick closing below both Tenkan Sen and Kijun Sen.
2. Tenkan Sen and Kijun Sen sloping Downwards.
3. Chikou Span having crossed below past price action , below past Tenkan Sen and below past Kijun Sen going straight DOWN.
4. Leading KUMO either showing Bullish Momentum decreasing if it is Bullish, with Upper and Lower Borders getting closer and eventually making a bearish Crossover giving birth to a Bearish KUMO, or if it is a Bearish KUMO, its Lower Border must be sharp poin ting downwards and the Upper Border must be rounded or sloping downwards.

A follow-up Signal will be given once ALL entry Criteria are met on H4 TF.

Happy pips!

Sofia

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